Cotton yarn prices down in South India; buying remains muted

Mumbai market witnessed downward trend and cotton yarn prices slipped by ₹3-7 per kg. Mills and stockists are struggling to get buying enquiry. “Buyers remained muted before Diwali. Slower demand from downstream industry and festival mood discouraged buyers. Let us hope to see better buying after Diwali,” a trader from Mumbai market told Fibre2Fashion. In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,650-1,690 and ₹1,590-1,620 per 5 kg (GST extra) respectively. 60 count combed warp was priced at ₹365-375 per kg. 80 carded (weft) cotton yarn was sold at ₹1,550-1,600 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹317-322 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹300-305 per kg and 40/41 count combed yarn (warp) was priced at ₹315-320 per kg, according to Fibre2Fashion’s market insight tool TexPro.

In the Tiruppur market, cotton yarn prices decreased by ₹3-8 per kg. Poor demand from weaving industry and cheaper cotton dragged down yarn prices. There was optimism of improvement after Diwali. A trader from Tiruppur told Fibre2Fashion, “Demand remained weak from local and export markets. There is no possibility of price rise. If demand improves at lower prices, it will be a good sign.” Today, 30 count combed cotton yarn was traded at ₹312-317 per kg (GST extra), 34 count combed at ₹320-325 per kg and 40 count combed at ₹328-333 per kg in the Tiruppur market. Cotton yarn of 30 count carded was sold at ₹285-290 per kg, 34 count carded at ₹290-295 per kg and 40 count carded at ₹302-318 per kg, as per TexPro.

In Gujarat, cotton prices dropped by ₹1,000 per candy of 356 kg in the last couple of days due to sluggish trend in the global market. According to market sources, demand from spinning mills remained average. Bearish trend of ICE cotton dampened sentiments in cotton market. Cotton prices decreased from ₹69,000 to ₹68,000 per candy in Gujarat. Daily cotton arrival increased to 20,000-22,000 bales of 170 kg each.

Fibre2Fashion News Desk (KUL)